[Translation for Reference and Convenience Purposed Only]

June 24, 2011
To All Shareholders:Osamu Watanabe, President
Japan Petroleum Exploration Co., Ltd. (JAPEX)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo
Notification of Resolutions
at the 41st Ordinary General Meeting of the Shareholders
We are pleased to inform you that the following matters were reported and resolved at the 41stOrdinary General Meeting of the Shareholders held on June 24, 2011.
Announcements: 1)

2)

Business report and consolidated financial report of the 41st Term (fromApril 1, 2010 to March 31, 2011), and audit reports from the accountingauditor and Board of Corporate Auditors on the consolidated financial
reportJAPEX reported the foregoing items to the shareholders present at themeeting.
Financial report of the 41st Term (from April 1, 2010 to March 31, 2011)
JAPEX reported the foregoing items to the shareholders present at themeeting.

Resolution Items:
Item 1: Appropriation of Surplus
This item was approved and adopted as proposed. It was decided to pay the year-end
dividends of 20 yen per share for the 41st Term.
Item 2: Election of Fourteen (14) Directors
This item was approved and adopted as proposed. Accordingly, twelve (12) Directors,
Yuji Tanahashi, Osamu Watanabe, Katsuo Suzuki, Hiroshi Sato, Shoichi Ishii, Toshio Ibi,Mitsuru Saito, Junichi Matsumoto, Nobuyuki Ogura, Nobuaki Moritani, Hitoshi Yamatoya
and Kazuo Kawakami were reelected and two (2) Directors, Kazuo Nakayama andKiyoshi Ogino were newly elected, and all of them assumed their offices.
Kazuo Kawakami is an Outside Director.
Item 3: Election of One (1) Corporate Auditor
This item was approved and adopted as proposed. Accordingly, one (1) CorporateAuditor, Masahiko Kadotani was reelected and assumed his office.
Masahiko Kadotani is an Outside Corporate Auditor.
Item 4: Awarding Retirement Benefits to Retiring Director
This item was approved and adopted as proposed. Consequently, retirement benefits
shall be awarded to retiring Director Norihiko Sawara according to the standards specified
by JAPEX in recognition of services during his tenure, and the specific amount, period andmethod of payment, etc. shall be entrusted to deliberation of the Board of Directors.
Item 5: Payment of Bonuses to Directors and Corporate Auditors
This item was approved and adopted as proposed. A total amount of bonus of
69,490,000 yen (64,690,000 yen to Directors, 4,800,000 yen to Corporate Auditors) willbe paid.

[Translation for Reference and Convenience Purposed Only]

Item 6: Renewal of the Measures to Prevent Large-scale Acquisition of Our Company Shares(Takeover Defense Measures)
The renewed Takeover Defense Measures were approved and adopted as proposed.
------------------------------------------------------------------------------------------------------------------------At the Meeting of the Board of Directors held after the 41st Ordinary General Meeting of theShareholders was closed, Representative Directors, Directors with Titles and Executive Officerswere elected and assumed offices. As a consequence, Directors and Executive Officers of theCompany are as follows;
Representative Director - Chairman

Yuji Tanahashi

Representative Director - President

Chief Executive Officer

Osamu Watanabe

Representative Director - Executive Vice President

Executive Officer

Katsuo Suzuki

Representative Director - Executive Vice President

Executive Officer

Hiroshi Sato

Senior Managing Director

Executive Officer

Shoichi Ishii

Senior Managing Director

Executive Officer

Toshio Ibi

Managing Director

Executive Officer

Mitsuru Saito

Managing Director

Executive Officer

Junichi Matsumoto

Managing DirectorExecutive Officer

Nobuyuki Ogura

Managing Director

Executive Officer

Nobuaki Moritani

Managing Director

Executive Officer

Hitoshi Yamatoya

Managing Director

Executive Officer

Kazuo Nakayama

Managing Director

Executive Officer

Kiyoshi Ogino

Director

Kazuo Kawakami

Managing Executive Officer

Koji Sakuma

Executive Officer

Keisuke Inoue

Executive Officer

Toru Kuroda

Executive Officer

Yosuke Higai

Executive Officer

Hikaru Fukasawa

Executive Officer

Shigeru Mitsuya

Executive Officer

Yasuhiro Masui

Executive Officer

Kazuhiko Ozeki

Executive Officer

Taku Kawanaka

Executive Officer

Motofumi Hyodo

Executive Officer

Takahisa InoueExecutive OfficerHajime Ito-------------------------------------------------------------------------------------------------------------------------

[Translation for Reference and Convenience Purposed Only]<Dividend Payments>
Shareholders who have requested that dividend payments be made by transfer to a bank orother financial institution are asked to confirm the enclosed documents to receive the dividend.
Shareholders who have not requested that divided payments be made by transfer to a bankor other financial institution may receive their dividend payments at their nearby branch of JAPANPOST BANK Co., Ltd. and post office (banking agency) as indicated in the enclosed Receipt ofYear-end Dividends. The period for receiving payment is from June 27, 2011 to July 27, 2011.